Government to establish Department of Real Estate
  • By Thong Chi | | July 09, 2012 11:36 AM

The Ministry of Construction proposed the establishment of a General Department of Housing and Real Estate Market.

 General Department of Housing and Real Estate Market

Currently, the Ministry of Construction's Department of Housing and Real Estate Market is unable to keep up with the demands of the market, according to many. This, they say, is a result of slow reaction to the realities of the market as well as slow implementation at the local level.

The Minister of Construction, Trinh Dinh Dung, said, though the bureau has tried to achieve prescribed goals, the central Government needs a larger agency.

Management of the real estate market is a difficult task for local agencies because there are so many elements involved, such as finance and taxing, which create inter-agency overlap.

Proponents of the new department insist that this requires a strong central department that can deal with the complexities of the market, especially concerning national projects.

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